KSE-100 Index up by 437 points as stock market continues making gains
July 9, 2020 05:27 PM
The KSE-100 Index continued its upward movement and ended the session at 36,132.50 after gaining 437.61 points on Thursday, as the Pakistan Stock Exchange is witnessing a much-awaited positive streak.
It means the index is up by 1,710.58 points this month after closing June at 34,421.92 on 30th. Hence, the stock market is going through one of the best series of gain in the current year.
The KSE-100 Index was at 40,735.08 on December 31, 2019. It moved upward till January 10 and reached the level of 43,207.05. However, it was followed by a mini-slide with the index down to 39,296.70 on February 10.
But it was period from March 6 to March 25 during which the market went south as the index slid to 27,228.80, representing a loss of 12,153.11 points. Since then the market has been trying to recover from this freefall and has now reached 36,132.50.
On Thursday, the share prices of 215 companies went up and 115 were down with no change in the value of 20.
Unity Foods Limited was the hottest stock during the session with 40,647,500 shares traded. The second and third on the list were Pak Electron Limited and TRG Pakistan Limited as 39,572,000 and 38,443,500 shares respectively were exchanged. The TRG Pakistan Limited was the best performer on Wednesday with 38,340,500 shares.
Meanwhile, the share price of Unicap Modaraba was up by 30 percent, making it the best gainer. Popular Islamic Modaraba was second with 25.06 percent gain and First National Bank Modaraba third after gaining 21.95 percent.
On the other hand, First Fidelity Leasing Modaraba experienced the worst losses in terms of share price which was down by 14.53 percent. Pakistan PVC Limited was down by 14.04 percent and Habib Mero Mod by 12.50 percent.